Yahoo Finance Capital City Bank Group, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year
Investors in Capital City Bank Group, Inc. (NASDAQ:CCBG) had a good week, as its shares rose 4.7% to close at US$27.24 following the release of its quarterly results. The result was positive overall - although revenues of US$56m were in line with what the analysts predicted, Capital City Bank Group surprised by delivering a statutory profit of US$0.74 per share, modestly greater than expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.
See our latest analysis for Capital City Bank Group
Taking into account the latest results, the current consensus from Capital City Bank Group's four analysts is for revenues of US$228.1m in 2024. This would reflect a modest 3.0% increase on its revenue over the past 12 months. Statutory earnings per share are forecast to reduce 4.7% to US$2.88 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$232.4m and earnings per share (EPS) of US$2.90 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$34.75. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Capital City Bank Group analyst has a price target of US$37.00 per share, while the most pessimistic values it at US$31.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that Capital City Bank Group's revenue growth is expected to slow, with the forecast 4.1% annualised growth rate until the end of 2024 being well below the historical 7.4% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.0% per year. Factoring in the forecast slowdown in growth, it seems obvious that Capital City Bank Group is also expected to grow slower than other industry participants.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$34.75, with the latest estimates not enough to have an impact on their price targets.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Capital City Bank Group analysts - going out to 2025, and you can see them free on our platform here.
It is also worth noting that we have found 1 warning sign for Capital City Bank Group that you need to take into consideration.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
